Consumption spending is __________ and investment spending is __________ in the Keynesian model
A) autonomous; autonomous
B) autonomous; induced
C) induced; autonomous
D) induced; induced
C
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Which of the following is true?
i. When the world price of a good is lower than the price that balances domestic supply and demand, a country gains from exporting the good. ii. Compared to a no-trade situation, in a market with imports, consumer surplus is larger. iii. Quotas raise the domestic price of imported goods. A) only i B) only ii C) only iii D) i and ii E) ii and iii
Which of the following statements about utility and preferences is false?
A) If Sidra prefers tea to coffee and coffee to hot chocolate, then she must prefer tea to hot chocolate. B) If two individuals, Ingrid and Inez, each consume the same bundle of goods, then both Inez and Ingrid must receive the same utility from the bundle. C) Utility cannot be compared across consumers. D) Preferences can be ranked.
Assuming Vice President Smith has to sacrifice more than his assistant in order to engage in full-time typing, we would say that his assistant has a(n) ________ advantage in typing versus Mr. Smith
A) absolute B) comparative C) pecuniary D) overwhelming
A monopolistically competitive firm that earns a profit in the short run will definitely incur a loss in the long run
a. True b. False Indicate whether the statement is true or false